Banking & Finance

Fake bank apps may have stolen data of thousands of customers: Report

Fake apps of SBI, ICICI, Axis Bank, Citi and other leading banks are available on Google Play, which may have stolen data of thousands of bank customers, claims a report by IT security firm Sophos Lab

CAG Rajiv Mehrishi questions RBI’s accountability over NPA crisis in banks

Comptroller and Auditor General of India (CAG) Rajiv Mehrishi Tuesday questioned the role of RBI in the present banking crisis, asking what the regulator was doing when the banks were lending huge amo

Indian NBFCs need to repay about Rs 1.2 lakh crore of commercial paper debt in October-December

India’s non-bank financial companies have had a tough few months amid the fallout from defaults by one of their own, conglomerate IL&FS group.

SBI plans to raise up to Rs 25,000 crore in FY19

The country's largest bank SBI said Monday it seeks to raise up to Rs 25,000 crore during the current financial year, including up to Rs 5,000 crore through bonds to meet capital adequacy norms.

PNB Housing Finance raises Rs 1,775 crore through commercial papers

PNB Housing Finance Monday said it has raised Rs 1,775 crore by issuing commercial papers (CPs) to mutual funds and banks during this month.

Q2: Strong fee growth springs a surprise

FY19e PAT down 3.4% due to slippages of `15.4 bn for fiscal; ‘Buy’ maintained.

SBI launches its first “Wealth Hub” in Mangaluru

The wealth hub was inaugurated by SBI Chairman Rajnish Kumar.

Assocham hails RBI decision to ease liquidity crunch at NBFCs amid crisis

The RBI on Friday allowed the banks to use government securities equivalent to their incremental credit to non-banking financial companies (NBFCs) for a three-month period to meet their liquidity cove

HDFC Bank Q2 results: Net profit rises 21% to Rs 5,005 crore; gross NPA at 1.33%

HDFC Bank Q2 results: HDFC Bank today reported a 21% jump in its profit on-year to Rs 5,005 in the second quarter of the financial year 2018-19, which could be positive for the banking sector amid lo

Analyst corner: Maintain ‘hold’ on South Indian Bank

Narrower spreads and lower Treasury income led to South Indian Bank’s weak operating performance this quarter. On a positive note, lower slippages led to stabilising asset quality.

RBI against separate regulator for payments system; issues dissent note

The Reserve Bank Friday made public its strongly-worded dissent note on certain recommendations of a government panel on changes to payment and settlement laws and said the regulation of payments syst

FinMin pins hope on PSU mergers, share buybacks to meet FY19 disinvestment target

The Finance Ministry is banking on merger and acquisitions among PSUs and share buybacks by state-run companies to meet the Rs 80,000-crore disinvestment target for the current fiscal year 2018-19.

RBI announces more steps to increase credit flow to NBFCs

The Reserve Bank Friday announced more measures to increase liquidity flows to the non-banking financial companies.

Are banks really closed for 11 days in October, November? Don’t panic; check holiday dates here

Rumours circulating on social media have made the assumption that banks will be closed on several days for Diwali and allied festivals.

Too many PSU banks in India; here’s what SBI Chief Rajnish Kumar has to say

On September 17, the Narendra Modi government announced the merger proposal of Bank of Baroda, Vijaya Bank and Dena Bank with an aim to make the entity the third largest bank in India.

RBI denies more time to Yes Bank CEO Rana Kapoor; asks to appoint new chief by Feb 1

Yes Bank had announced on September 17 that the RBI has directed Rana Kapoor to step down as the MD and CEO of the bank by January 31, 2019.

RBI wants to pull its directors out of PSU banks, Finance Ministry disagrees; check what both say

Now, neither the government is receptive of the RBI's idea of withdrawing its directors, nor it wants the RBI to have additional powers over regulation of PSU banks, as the government is of the view t

Federal Bank Q2 result: Marginally up profit reported at Rs 266 crore

Federal Bank on Tuesday reported a marginal, 0.88% rise in its net profit for the second quarter of FY19 at Rs 266 crore, restricted by an increase in provisions as dud assets increased.

Data localisation: RBI stands firm, USIBC cautions India it might hamper growth

With the RBI standing firm on its data localisation stance, the US-India Business Council (USIBC) Tuesday cautioned that policies restricting flow of data can act as "barriers" to expansion of service

CVC shares first-of-its-kind report on top 100 bank frauds with RBI, ED and CBI

Probity watchdog Central Vigilance Commission (CVC) has completed a first-of-its-kind analysis of the top 100 banking frauds, including those in the jewellery and aviation sectors, and shared its find

RBI approves 3-year term for Sandeep Bakhshi as ICICI MD, CEO

Adopting a seemingly cautious approach, the Reserve Bank has approved appointment of Sandeep Bakhshi as ICICI Bank's Managing Director and Chief Executive Officer for three years as against a five-yea

As data localisation deadline approaches, payments firms get ready for a showdown with RBI

Industry sources said, in a meeting on October 10, RBI had told the companies that if they fail to meet the deadline regulatory action and penalty will follow.

RBI data localisation: 80% players comply with norms, say sources

With the RBI not relenting on extending the Monday's deadline for data localisation, as many as 80 per cent of industry players including Amazon, Alibaba and WhatsApp have complied with the data stora

Government stake in Allahabad Bank goes up by 7.6 per cent

Government's stake in the Allahabad Bank has increased by 7.6 per cent post allotment of equity shares on preferential basis, the state-owned lender said Monday.

IL&FS case: Government welcomes NCLAT order, says payment of salaries, completion of ongoing projects priority

The government on Monday welcomed the National Company Law Appellate Tribunal (NCLAT) stay on all the proceedings against crisis-hit IL&FS group companies and said that the current priority is to pay

Germany’s Kreditech gets RBI NBFC license for digital lending; check how it uses machine learning, big data

Kreditech uses its own technology for credit scoring of the consumers using big data and machine learning which helps it to determine credit risk for even thin-file customers.

IL&FS liquidity crunch could deeply hurt not only NBFCs, but also broader economy: Moody’s

Since NBFIs primarily depend on markets for borrowing to finance asset growth, the continued liquidity crunch would lead to increased financing costs for NBFCs or even 'difficulty in rolling over thei

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